BSA/AML/OFAC Risk Assessments The Cornerstone of an Effective Compliance Shop

Regulators expect banks to show that their BSA operations rest on sound risk assessments. This BSA/AML/OFAC risk assessment training covers practices that regulators and examiners recognize, along with AML risk categories and each assessment area.

You'll learn how to review policies and procedures for risk assessments, identify your organization's risks and set a risk threshold based on your strategic plans and business models.

The session explains how to review your BSA, AML and OFAC risk assessments for completeness and thoroughness, judge whether your risk matrices fit your organization, perform each type of assessment and review them periodically so they stay relevant and adequate.

• Review and evaluate policies and procedures for risk assessments
• Identify your organization's risks
• Set a risk threshold based on strategic plans and business models
• Check BSA/AML/OFAC risk assessments for completeness, thoroughness and suitable matrices
• Perform BSA, AML and OFAC risk assessments
• Review risk assessments periodically and implement an assessment program

• Implementing a BSA risk assessment
• Assessing policies and procedures for risk assessments
• Reviewing BSA, AML and OFAC risk assessments in full
• Reviewing risk assessment matrices
• Judging the completeness and thoroughness of risk assessments
• Understanding OFAC risk factors and performing OFAC risk assessments
• Periodic review of risk assessments

Appropriate risk assessments support strategic planning, help a bank understand its risk threshold and assist with OFAC compliance. The topics are based on industry practice and supervisory experience and cover the components of a BSA risk assessment program that auditors focus on.

The session suits BSA/AML officers, internal auditors, money service business BSA/AML officers and staff with BSA/AML management or oversight duties.

• BSA/AML Officers
• Internal Auditors
• Staff with roles and responsibilities in BSA / AML management and oversight
• Money Service Business BSA/AML Officers

Craig Taggart has almost a decade of experience in the fields of mergers and acquisitions and business financing. Mr. Taggart works strategically with his clients to achieve the highest value for their business within the capital markets. His experience with BCC Capital Partners in the M&A industry has greatly contributed to his understanding of transaction structure, strategic placement of buyers, and the attainment of maximum market value for his clients. He has represented and sold many businesses in several different industries and has significant experience working with companies in continuing education, transportation, software, and professional services. He is currently working in the clean energy sector that covers multiple initiatives within M&A and corporate development.

He is a certified merger and acquisition advisor, accredited valuation analyst as well as an active member of Alliance of Mergers and Acquisition, and The National Association of Certified Valuators and Analysts (NACVA). His knowledge and expertise also extend to systems such as Software as a Service (SaaS), and ERP and CRM systems (Netsuite, Salesforce, Sage 100, 500, X3 ERP). He has been a certified fraud examiner since 2011 and has previously worked at Deloitte with its quality risk management team.

He earned his MBA from the San Diego State University specializing in financial management. Mr. Taggart graduated from California State University Northridge with a bachelor’s degree majoring in organizational psychology.